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VARDHMAN TEXTILES Announces Quarterly Results (2QFY19); Net Profit Up 47.5%

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VARDHMAN TEXTILES Announces Quarterly Results (2QFY19); Net Profit Up 47.5%
Wed, 14 Nov

VARDHMAN TEXTILES has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

VARDHMAN TEXTILES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m15,23117,00016,851-0.9%10.6%
Other incomeRs m51227342154.3%-17.8%
TurnoverRs m15,74217,27217,2720.0%9.7%
ExpensesRs m13,25414,07813,541-3.8%2.2%
Gross profitRs m1,9902,8863,31815.0%66.8%
DepreciationRs m5706196200.1%8.8%
InterestRs m276337292-13.3%5.9%
Profit before taxRs m1,6552,2022,82628.4%70.7%
TaxRs m32466186230.5%166.2%
Profit after taxRs m1,3321,5411,96427.4%47.5%
Gross profit margin%13.117.019.7
Effective tax rate%19.630.030.5
Net profit margin%8.58.911.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 10.6% on a year-on-year (YoY) basis. The expenses were up by 2.2% YoY during the same period.
  • The company's operating profit increased by 66.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.7% in 2QFY19 as against 13.1% in 2QFY18.
  • Depreciation charges increased by 8.8% and finance costs increased by 5.9% YoY, respectively.
  • Other income declined by 17.8% YoY during the quarter.
  • Net profit for the quarter increased by 47.5% YoY. Net profit margins during the quarter increased from 8.5% in 2QFY18 to 11.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.8% QoQ during the same period.
  • The company's operating profit increased by 15.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.7% in 2QFY19 as against 17.0% in 1QFY18.
  • Net profit for the quarter increased by 27.4% QoQ, while net profit margins increased from 8.9% in 1QFY18 to 11.4% in 2QFY19.

To see how VARDHMAN TEXTILES has performed over the last eight quarters, please visit here.

VARDHMAN TEXTILES Share Price Performance

Over the last one year, VARDHMAN TEXTILES share price has moved up from Rs 1,248.9 to Rs 1,073.4, registering a Loss of Rs 175.5 or around 14.1%.

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 1,073.4, the price to earnings (P/E) ratio of VARDHMAN TEXTILES stands at 10.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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For the quarter ended March 2019, VARDHMAN TEXTILES has posted a net profit of Rs 2 bn (up 10.1% YoY). Sales on the other hand came in at Rs 18 bn (up 16.8% YoY). Read on for a complete analysis of VARDHMAN TEXTILES's quarterly results.

VARDHMAN TEXTILES Announces Quarterly Results (3QFY19); Net Profit Up 48.1% (Quarterly Result Update)

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For the quarter ended December 2018, VARDHMAN TEXTILES has posted a net profit of Rs 2 bn (up 48.1% YoY). Sales on the other hand came in at Rs 17 bn (up 4.9% YoY). Read on for a complete analysis of VARDHMAN TEXTILES's quarterly results.

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